West Monroe, a national business and technology consulting firm, today announced it is launching a new Corporate Transformation practice to meet growing demand from companies that need technology-led transformations and turnaround services. The practice will be led by Guy Cartwright, a 20-year veteran turnaround executive, who joined West Monroe in July as a managing director.
In an increasingly volatile business environment, companies need to take extraordinary actions to defend their financial position and drive transformational change. Technology plays a central role in this, as 97% of enterprise decision-makers believe COVID-19 accelerated their company’s digital transformation efforts. The Corporate Transformation practice will manage complex corporate transformations for both mid-size and large organizations, partnering with them early on in the turnaround lifecycle and managing significant technology investments to prevent distress. 2020 is expected to set a record for bankruptcies and they are up 26% in the first half of the year.
“For companies that need to reinvent, it is paramount to view the business holistically and determine the levers that can be pulled to drive immediate and sustained results,” Guy Cartwright said. “We believe the right combination of business decisions and technology investments are critical for companies to transform in the face of significant change.”
West Monroe has a long track record of generating financial results for clients by assembling multidisciplinary teams of experts across industry, function, and technology to provide the right combination of skills and a holistic approach to every engagement. The firm already employs hundreds of experts in labor efficiency, capital efficiency, cost and cash optimization, transformation, and technology, and is bringing them together under one umbrella to execute enterprise-level transformations. West Monroe’s unmatched program management capabilities overseeing and executing large-scale programs—from digital transformations to complex mergers and divestitures to multi-year technology implementations—mean that companies in transition can expect a swift, coordinated transformation that achieves success.
“West Monroe is in the business of anticipating market needs. By standing up this group we are bringing together the best that West Monroe has to offer—using technology to drive business results and effectively managing large-scale programs—for companies that need an enterprise-level transformation,” Chairman & CEO Kevin McCarty said. “Guy brings unparalleled experience leading successful turnarounds as an executive and is the most qualified person to lead effective transformations for clients of West Monroe.”
From 2010 to 2019, Guy was the lead U.S. Operating Partner at TowerBrook Capital Partners, a transatlantic $12 billion private equity investment firm, where his work ranged from leading all aspects of due diligence to driving strategic projects at portfolio companies across industries. Cartwright was also an executive at Asurion Corporation, which grew from $500 million to $3.5 billion in revenue during his tenure. Most recently he was the Chief Transformation Officer and interim CFO at Juul Labs, Inc., a multi-billion-dollar company where he led a complicated, successful global strategic and operational reset that resulted in over $1 billion in cost reductions.
“Having been a client of West Monroe in the past, I know firsthand the results this firm can drive through its ability to not only understand how technology drives business change and financial value, but actually execute the plans,” Cartwright said. “I am proud to bring my experience to this firm where I believe we can make a major impact for companies that need significant, investment-based change to survive the economic impacts of this pandemic.”
This is the first new practice the firm has created since 2018, though the firm is always adding new capabilities through organic growth and acquisitions. The firm will provide turnaround and transformation consulting services to companies primarily in the following industries: healthcare and life sciences, energy and utilities, private equity, consumer and industrial products, financial services, software & high-tech, and retail.
About West Monroe
West Monroe is a national consulting firm that was born in technology but built for business—partnering with companies in transformative industries to deliver real, measurable results. Technology is who we are, it is not something we bolted on overnight, and we believe it is one of the greatest enablers of business value. That’s why we work in diverse, multidisciplinary teams that blend industry expertise with deep operational and technology capabilities to create quantifiable, financial value for our clients. Our 1,500 employees based in seven offices across the United States also own 100% of our business, so when you partner with us you know we are committed—because your success is our success. Our undeniably different approach breeds undeniable results. Visit WMP.com to learn more.